BDR Thermea acquires ECR International
Acquisition approved by ECR Shareholders
Utica, NY December 23, 2015 – ECR International, an HVAC manufacturer with headquarters in Utica, NY and fabrication facilities in Dunkirk, NY, announced today that the company’s shareholders have approved the sale of the company to BDR Thermea, a Dutch heating products group with its global headquarters in Apeldoorn, the Netherlands. The acquisition brings together two privately owned companies that have been in business for almost 90 years in the US and for more than 300 years in Europe.
Ron Passafaro, President and CEO of ECR International stated: “We are pleased that ECR shareholders have supported this transaction which now allows us to access the tools necessary to compete in all technology and market segments.”
“I’m excited to welcome ECR International to our family of leading, international brands,” added Rob Van Banning, Chief Executive Officer of BDR Thermea. “BDR Thermea is on its way to become the leading heating manufacturer and distributor in the US. For us, this acquisition represents a first step of a bigger strategy to increase market share and presence worldwide. All BDR North American operations will be integrated into our newly established company which will continue to operate under the ECR International name and be managed by the current ECR team led by Ron Passafaro. ”
The current management structure and manufacturing facilities in Dunkirk and Utica, N.Y. will also remain the same. Products will continue to be sold under the ECR family of brands which customers have known since 1928. New and innovative products are slated to be added to ECR’s brands and facilities which will be the subject matter of an initial visit by BDR CEO Rob Van Banning and other leaders to the company in January of 2016. ECR distributors and installing contractors will soon have access to a robust product offering with more choices to meet residential and commercial customer’s needs and applications.
About ECR International:
ECR International, with headquarters in Utica, NY, is a manufacturing company that provides heating and cooling products under a family of brand names including: Dunkirk, Utica Boilers, Olsen, Airco, Pennco, RetroAire, Argo and EMI. The company markets its products in the US, Canada and China. ECR has a rich history, going back nearly ninety years. In 1928, Earle C. Reed, founded two companies: Dunkirk Radiator and Utica Radiator. The companies merged in 1999 as ECR International, taking the founder’s initials as its company name.
About BDR Thermea:
BDR Thermea is a leading manufacturer and distributor of innovative heating and hot water systems and services for commercial as well as domestic use. The company employs more than 6,300 people across Europe and has revenues of almost €1.7 billion. The group operates in more than 70 markets worldwide and has a top market position in numerous key markets, including the UK, France, Germany, Spain, the Netherlands and Italy. Also, it has strong positions in the rapidly growing markets of Eastern Europe, Turkey, Russia, North America and China. BDR Thermea is the parent company of renowned international heating brands, including De Dietrich, Baxi, Remeha, Brötje, Chappée and Baymak.
For more information, contact:
Leigh Ann Dillon, (315) 797-1310